Wells Fargo & Company MN Has $11.02 Million Stock Position in Trex Company, Inc. (NYSE:TREX)

Wells Fargo & Company MN raised its holdings in shares of Trex Company, Inc. (NYSE:TREX) by 1.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 159,583 shares of the construction company’s stock after acquiring an additional 2,799 shares during the quarter. Wells Fargo & Company MN’s holdings in Trex were worth $11,016,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Xponance Inc. raised its holdings in Trex by 0.7% in the fourth quarter. Xponance Inc. now owns 21,605 shares of the construction company’s stock worth $1,491,000 after purchasing an additional 143 shares during the period. Principal Securities Inc. lifted its holdings in shares of Trex by 5.0% in the fourth quarter. Principal Securities Inc. now owns 3,082 shares of the construction company’s stock valued at $213,000 after purchasing an additional 147 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of Trex by 0.9% during the fourth quarter. Pacer Advisors Inc. now owns 15,970 shares of the construction company’s stock worth $1,102,000 after buying an additional 148 shares during the period. Harrington Investments INC grew its holdings in shares of Trex by 1.8% during the fourth quarter. Harrington Investments INC now owns 9,106 shares of the construction company’s stock worth $629,000 after buying an additional 159 shares in the last quarter. Finally, CIBC Asset Management Inc grew its holdings in shares of Trex by 5.5% during the fourth quarter. CIBC Asset Management Inc now owns 3,335 shares of the construction company’s stock worth $230,000 after buying an additional 175 shares in the last quarter. Institutional investors own 95.96% of the company’s stock.

Trex Trading Down 1.0 %

Shares of Trex stock opened at $54.72 on Wednesday. Trex Company, Inc. has a 1-year low of $49.01 and a 1-year high of $94.00. The business has a 50-day moving average price of $59.65 and a two-hundred day moving average price of $66.77. The company has a market cap of $5.87 billion, a P/E ratio of 24.99, a PEG ratio of 2.51 and a beta of 1.62.

Trex (NYSE:TREX) last issued its earnings results on Monday, February 24th. The construction company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.05. Trex had a return on equity of 28.89% and a net margin of 20.23%. The business had revenue of $167.63 million during the quarter, compared to analyst estimates of $160.54 million. Equities research analysts forecast that Trex Company, Inc. will post 2.04 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

TREX has been the subject of a number of analyst reports. Jefferies Financial Group decreased their target price on shares of Trex from $81.00 to $71.00 and set a “hold” rating for the company in a research report on Tuesday, February 25th. Bank of America reduced their target price on Trex from $85.00 to $79.00 and set a “buy” rating for the company in a research note on Tuesday, February 25th. JPMorgan Chase & Co. cut their price objective on shares of Trex from $79.00 to $73.00 and set a “neutral” rating for the company in a research report on Wednesday, March 5th. StockNews.com cut shares of Trex from a “hold” rating to a “sell” rating in a research note on Wednesday, March 5th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Trex in a research note on Tuesday, April 1st. They set a “buy” rating and a $85.00 target price for the company. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Trex has a consensus rating of “Hold” and an average target price of $77.18.

Insider Buying and Selling

In other Trex news, Director Melkeya Mcduffie sold 1,420 shares of the business’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $61.88, for a total value of $87,869.60. Following the transaction, the director now directly owns 1,705 shares in the company, valued at $105,505.40. The trade was a 45.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.71% of the stock is owned by corporate insiders.

Trex Company Profile

Trex Company, Inc manufactures and distributes composite decking, railing, and outdoor living products and accessories for residential and commercial markets in the United States. It offers decking products and accessories under the names Trex Transcend, Trex Select, Trex Signature, Trex Transcend Lineage, and Trex Enhance for protection against fading, staining, mold, and scratching; Trex Hideaway, a hidden fastening system; and Trex DeckLighting, a LED dimmable deck lighting for use on posts, floors, and steps.